SAFC legend Jimmy Montgomery has welcomed news the club has been sold.
"We needed to do something - I think Ellis had had his time with us. We need someone new," he said.
"We will just have to wait and see what emerges over the next few days, the next few weeks about their aspirations."
Speaking just minutes after the twin announcements that the club had been sold and Chris Coleman had departed from the Stadium of Light, the 1973 FA Cup-winning goalkeeper said he believed the new investors had their own manager in mind: "The new owners will know what they want and maybe they have somebody in mind," he said.
"We will see what happens."